Live w/Jim & Anna, Ep. 15: Social Security, Refinancing, Rebalancing, and Emergency Funds

MainStreet Financial Planning

Live w/ Jim & Anna: Episode #15


1:07 – My high income earning husband died at the age of 57. I am 62 now, I want to retire. Should I apply for social security widow’s benefit, or should I take my own?

3:10 – Should we take out our home equity line of credit or just do a cash out refinance since we need $30,000 or so for an addition on the house?

6:47 – I have to make money out of my IRA and I’m past 59 and a half. Do I have to pay taxes on my withdrawal? My custodian says I have a choice to do withholding on these taxes or not to do it.

9:10 – Why bother with rebalancing if my portfolio is throwing off plenty of income as is? It’s just a risk management method, not a growth strategy. If I can stand the risk, does it make sense to let it ride?

13:15 – Is it best to have an emergency money fund account in a recipe with a greater amount percentage in stocks than bonds or vice versa?




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